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CEO's Report

As a result of the reduced business and private activities due to the Pandemic, the traffic volume has deceased in both Mainland China and Indonesia during the first half of 2020, fortunately the situation has been improved in the second half of the year. The tolls collected and the Group's income were reduced for the year.

The shareholders might be aware that our toll roads in Indonesia were loss-making in 2020 and it was expected upon our acquisition. It is usually the case on new expressways to allow for toll revenue and traffic volume in the first 3 to 5 years to catch up gradually. In certain situations, the toll revenue is so minimal that it might not even cover interest expenses. Currently, we estimate that both toll roads will generate profit at the earliest in 2023. This is another reason for the drop of our performance.

We believe our performance will become better and better as times goes by.

 

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